If you’re familiar at all with cryptocurrency markets, you know they’re changing drastically every day. There are many great reasons for this, not the least of which is that there are more than 1,000 cryptocurrencies currently in existence. A field that crowded generates a lot of activity!
As if that weren’t enough, crypto specialists are creating new currencies all the time, making the market exponentially fluid. But, how many cryptocurrencies are there exactly, and are they still worth investing in?
Here’s what you need to know about cryptocurrency and how many different options are currently on the market.
How Many Cryptocurrencies are Currently Available?
According to a piece published in March of 2018, there are about 1,658 cryptocurrencies currently on the market. This represents a jump from 1,600 earlier in the year, and a single cryptocurrency available just a few years back.
While this may seem like a huge number of cryptocurrencies, the fact is that the number will only continue to grow in coming years. Because cryptocurrencies can be created through an open source method, it’s surprisingly easy for anyone with a moderate knowledge of coding to create their own.
As it stands now, the entire cryptocurrency market cap is about $369 billion, with the top 20 cryptocurrencies accounting for 89 percent of the market total. The remaining 1,638 cryptocurrencies are worth a (relatively) paltry $39.6 billion.
The Daily Growth of Crypto
Part of the reason the crypto market is so volatile is that it sees a massive amount of growth daily. According to CoinTelegraph, major cryptocurrency trading platforms add about 100,000 users per day.
Many of the top exchanges, including Coinbase, Bitstamp, and Kraken have actually had a hard time dealing with the sudden surges in demand in their systems, and have had to run to scale accordingly.
Why You Should Invest in Crypto Now
If you look at the crypto market closely, you’ll see all sorts of people who are yelling about how it’s already too late to invest in crypto. While that’s not true, it’s also unwise to wait.
The crypto market is the ultimate example of an industry that moves fast and breaks things, and waiting any longer will only ensure higher prices and a more difficult entry process for you.
A Few Additional Reasons to Invest in Crypto Now
- Crypto Regulations are Improving
In the beginning, cryptocurrency was a digital Wild West. Today, though, the industry has seen the introduction of better cryptocurrency regulations, which reduce uncertainty and tackle many of the scams early investors may have been subject to. These regulations also help tackle the fears of potential investors and provide a strong foundation for future investments.
- Blockchain is a Durable Technology
Like it or not, blockchain is here to stay. While there are literally hundreds of cryptocurrencies to choose from, blockchain is the underlying technology that makes them work.
When you delve into the technology of blockchain, you’ll see that there are dozens of powerful global organizations investing in the development of blockchain, and researching ways for companies to integrate cryptocurrency into their daily operations. This provides a level of stability for the blockchain market and helps ensure it will be around for years to come.
- Investing is Easy
Investing in cryptocurrency is easier now than it’s ever been before. Thanks to investing platforms and ample information, even beginner investors can get a great deal on their entrance into the cryptocurrency market.
The Future of Crypto
Crypto is only going to grow more in coming years. Because of this, now is the time to hop aboard and find the crypto investments that work for you. Interested in learning about cryptocurrency trading methods? Ask us anything!